SIVB - This Stock Has Minimal Downside and Up to 210% Upside According to Wall Street
SVB Financial Group (NASDAQ: SIVB) , the parent company of Silicon Valley Bank, has seen its stock get battered and is now down about 66% this year. The bank, which caters heavily to start-ups, venture capital, and private equity companies, has been significantly impacted by the struggles in the tech sector and the private markets this year.
Funding for start-ups is slowing, start-ups are spending their cash, and some companies are seeing their valuations lowered because of what has happened to tech stocks in the public markets.
Considering SVB captures inflows on about half of all U.S.-backed venture capital investment, issues in the tech sector are certainly going to impact the stock. While the company is struggling right now, I believe SVB has built a great business that will do very well once the tech sector rebounds. Wall Street analysts seem to agree as well, with analyst price targets suggesting minimal downside and the potential for a multibagger opportunity.
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This Stock Has Minimal Downside and Up to 210% Upside, According to Wall Street